This indicator calculates the distribution of close-to-close percentage changes using rate of change on closing prices. It bins percentage changes into intervals of 0.25 percent increments from negative to positive values and plots a normalized cumulative hist
Indicator · Pine Script v5 · Own pane
Probability Distribution Histogram
This indicator calculates and displays the empirical probability distribution of transformed market data alongside theoretical distributions in a separate pane.
GitHub stars2on the repository
Pine versionv5runs as is
Lines of code1,019
Settings22inputs
LicenceNone stated
Last update8 months ago25 Feb 2026
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
Probability Distribution Histogram compares empirical bar frequencies against theoretical models like normal or Laplace distributions. Users can configure data transformation methods, custom bin counts and widths, top and bottom trimming, and historical lookback windows or specific date ranges. The tool also provides visual highlighting for the bin containing the current price point and calculates statistical metrics including sample moments, quantiles, and spread.
- Empirical versus theoretical distribution comparison
- Configurable data transformation and trimming options
- Custom bin count and width adjustments
- Lookback window and date range filtering
- Visual highlighting for the current active bin
Details
Published by
regalouisei on GitHub
Code credit
Anton Berlin, 2022, as written in the script's header
Type
Draws
Separate pane below the chart
Category
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Input Data to Plot | source | close | src |
| Data Transformation Method | string | TRANSFORM_LOG_PERC_CHANGE | data_transform_method |
| % to Trim from the TOP of the Data [0 to 100] | float | 0 | trim_from_top |
| % to Trim from the BOTTOM of the Data [0 to 100] | float | 0 | trim_from_bottom |
| Lookback Window [0 = All Chart Data] | int | 0 | lookback_window |
| Only Use Data From Below Date/Time Range | bool | false | use_date_time_range |
| Start Date/Time | time | timestamp("2021-01-01 00:00:00") | time_start |
| End Date/Time | time | timestamp("2022-12-31 00:00:00") | time_end |
| Number of Bins [1 to 50] | int | 30 | bins |
| Custom Bin Width | float | 0 | custom_bin_width |
| Bar Resolution [1 to 50] | int | 50 | Bar Resolution [1 to 50] |
| Height (% of Panel) [33 to 100] | float | 60 | row_height |
Show all 22 settings
| Setting | Type | Default | Variable |
|---|---|---|---|
| Base Color | color | color.white | clr_hist |
| Empirical Distribution Bar Color | color | color.new(color.blue, transp = 10) | clr_distr_bar |
| Theoretical Distribution for Comparison | string | DISTR_NORM | theoretical_distr |
| Theoretical Distribution Bar Color | color | color.rgb(63, 63, 63, transp = 10) | clr_theoretical_bar |
| Top Row X-Axis Label Color - Positive Values | color | color.rgb(155, 255, 135, transp = 0) | clr_lbl_pos_num |
| Top Row X-Axis Label Color - Negative Values | color | color.rgb(255, 155, 135, transp = 0) | clr_lbl_neg_num |
| Font Size | string | size.tiny | font_size |
| Top Row X-Axis Label Precision [0 to 10] | int | 4 | top_row_precision |
| Highlight Bin for Current Data Point? | bool | true | highlight_cur_bin |
| Highlighted Bin Color | color | color.new(color.yellow, transp = 10) | clr_highlight_cur_bin |
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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